The Common Reporting Standard (CRS) adopted by the OECD requires that Participating Jurisdictions obtain certain information from their financial institutions that will be automatically exchanged with other jurisdictions on an annual basis.
Financial institutions must also prepare and submit CRS xml files containing detailed financial account information for automatic exchange with tax authorities in other participating jurisdictions on an annual basis as required by OECD standard.
The Common Reporting Standard (CRS) adopted by the OECD requires that participating jurisdictions obtain certain information from their financial institutions that will be automatically exchanged with other jurisdictions on an annual basis.
The CRS established the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers in scope and the dule diligence procedures to be followed.
In order to ensure full compliance with the CRS, we assist our clients in all aspects and our services include:
- Analysis of specific issues regarding CRS, such as determination of client type pursuant to the applicable law of the client's country of residence
- Assistance with CRS implementation, such as review and support in case of changes to the on-boarding system and customer documentation
- Assistance with CRS Reporting including xml file preparation and support to software providers for IT implementation
- Training of personnel
QI Services
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CRS Services
Learn how we can assist your company to improve compliance with the QI rules. We provide a free, no obligation initial consultation.